Wednesday, Aug 18, 2010
If folks can't MEW, folks can't save and inflation is up yet wages for most are stationary or down t
BBC: General Motors unveils plans for a massive share sale
And tho begins the second largest share sale in US history as GM, 60%-owned by the US government officially files its proposals with the Securities and Exchange Commission to sell shares which analysts believe will raise between $12bn and $16bn (£7.7-10.2bn).
Posted by enuii @ 11:41 PM (736 views) Add Comment
5 Comments
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1. enuii said...
Oops, title too long rest should read:- then who will buy these?
2. novice pete said...
uh, banks, with taxpayers money?
3. Robh said...
Who will buy? Why would they buy more like?
4. Crunchy said...
It's all taxpayers money.
We have shares in everything, like it or not.
This is an illusion of choice.
Personally, I would object to buying shares in unnecessary wars, a car company would be my preference as cars kill far fewer
innocent people. However, I would still be in effect propping up certain corporations that I would rather not.
5. mken said...
GM is not a going concern.
It wouldn't exist without government shareholding.
And wouldn't "make money" without the scrappage scheme.
From today's FT, "General Motors gave prospective investors much to mull over in its initial public offering prospectus on Wednesday, in which it outlined risks to its business. These ranged from higher oil prices to aggressive competition in China and its naming of new executives with no previous motor industry experience."
No mention of the possible case that it builds cars nobody wants.